Pfizer retreats after dropping Astrazeneca takeover approach May 27, 2014 US DRUG giant Pfizer last night dropped its controversial £69bn takeover approach for Astrazeneca, banning the company from making another offer for the UK-based firm until the end of November. Astrazeneca had effectively confirmed the death of a deal last week by turning down a £55 a share final offer, despite some shareholders favouring a [...]
Investment into Europe reaches peak level as economies recover May 27, 2014 FOREIGN investment into Europe reached a record high last year, with the UK seeing the greatest increase, said EY research today. Despite challenging economic conditions in parts of the continent, 3,955 projects attracted foreign investment in 2013, up four per cent from the previous year. EY’s annual European Attractiveness Survey said the UK took the [...]
The man behind the revolution in your pocket May 27, 2014 The boss of Britain’s biggest tech firm tells Oliver Smith why so many people haven’t even heard of Arm Holdings DESPITE his company helping to power the smartphone revolution and almost single-handedly leading the charge into the so-called internet of things, Simon Segars says he doesn’t mind that outside of tech circles most people have [...]
Ukrainian air strikes take on rebels at airport May 27, 2014 UKRAINE’S new President, Petro Poroshenko, yesterday promised a tougher military response to rebels attacking key infrastructure in the troubled east of the country. The government attacked rebels with air strikes and paratroopers after a group of pro-Russian separatists captured Donetsk airport. Helicopters were seen firing on the main terminal, while ground troops are reported to [...]
UK shoppers run for cover over rainy Bank Holiday weekend May 27, 2014 RETAILERS were dealt a fresh blow over the Bank Holiday weekend as the wet weather put shoppers off visiting the high street. Footfall across Greater London high streets was down by 38 per cent at midday yesterday and fell by 16.5 per cent for the rest of the UK year-on-year, data from retail analysts Springboard [...]
Draghi hints at rate cut in June May 27, 2014 EUROPEAN Central Bank (ECB) head Mario Draghi dropped further hints yesterday that the institution could trim interest rates again, reducing them to negative levels as soon as next week. Draghi also said that a “prolonged downward departure of inflation and/or inflation expectations” could push the ECB towards a policy of full-scale quantitative easing. “There is [...]
Housing market may be slowed May 27, 2014 BRITAIN’S booming housing market could be slowed down by tougher restrictions on mortgages, economists said this weekend. It comes as more data on Help to Buy Scheme usage will be published on Thursday. “Governor Carney has hinted at three possible routes for tightening – further tighten the affordability tests, tighten loan-to-income or change the rules [...]
Energy firm to slash UK jobs May 27, 2014 THE ABU Dhabi National Energy Company (Taqa) plans to slash UK jobs as part of its plan to streamline the business, City A.M. has learnt. The energy investment firm, owned by the Abu Dhabi government, currently employs 556 people in the UK. Taqa said the job cuts would help “ensure Taqa’s sustainable future in the [...]
US-backed deals see UK stay top of buyout league May 27, 2014 THE UK fended off competition from European rivals last year to keep its title as the biggest buyout market, thanks to a rise in US-sponsored deals, a new report suggests today. Just over a quarter of all the cash spent in Europe last year by buyout shops was used to buy British firms, down from [...]
Addison Lee accelerates company turnover as it plans to add more customers in Britain May 27, 2014 LONDON minicab firm Addison Lee motored to a large rise in revenues and profits last year, fuelled by a near doubling of its returns on investment, annual accounts show. The group, which was snapped up by private equity firm Carlyle Group in April 2013, said turnover rose 7.6 per cent for the year ending August [...]
